Caleres (NYSE:CAL) Updates FY 2024 Earnings Guidance

Caleres (NYSE:CAL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 3.450-3.550 for the period, compared to the consensus earnings per share estimate of 4.030. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.8 billion. Caleres also updated its FY25 guidance to $3.45-3.55 EPS.

Caleres Stock Down 19.0 %

Shares of NYSE:CAL traded down $6.32 during trading on Thursday, hitting $26.88. 982,362 shares of the company traded hands, compared to its average volume of 537,335. The business’s fifty day moving average is $31.32 and its 200-day moving average is $34.31. The stock has a market capitalization of $946.18 million, a price-to-earnings ratio of 5.87 and a beta of 1.92. Caleres has a one year low of $26.26 and a one year high of $44.51.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The company had revenue of $740.90 million during the quarter, compared to analyst estimates of $751.35 million. Caleres had a net margin of 5.84% and a return on equity of 24.63%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 EPS. On average, analysts forecast that Caleres will post 4.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CAL shares. StockNews.com lowered Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Loop Capital lowered their target price on Caleres from $45.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, September 13th.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.